Who among the following is NOT protected by a property or casualty insurance policy without a special endorsement?

Bailees are individuals or entities that temporarily take possession of someone else's property, often for storage, repair, or other services. In a typical property or casualty insurance policy, coverage usually protects the insured party (the property owner) and certain stakeholders, like mortgage holders and loss payees, through standard endorsements.

Secured creditors, mortgage holders, and loss payees are typically protected under standard property insurance policies. They have distinct rights that ensure they are compensated in the event of a loss, as their financial interests in the property need protection. For example, mortgage holders are often included in the policy to ensure they receive payouts in claims, maintaining their financial interest in the property.

Bailees, on the other hand, do not automatically receive coverage under a typical property policy unless a specific endorsement is added to include them. This is primarily because bailment involves a temporary transfer of possession and the liability for damage or loss may depend on the terms of the agreement between the bailor (property owner) and the bailee. Therefore, they are not covered without additional provisions in the insurance policy.